6/22/2007 - 2nd Qtr 2007 -- GS Conference Call

Revs down, best quarter in some lines of business
investment bank - 1.7B
advsior fees -18%
underwriting - + 18%
investing backlog - new record

(-29%) from 1st qtr
FICC
Equities -19%
Principal investment -


asset mgt - up
assets under mgt - up

expenses
- head count up 4%
- 33.7 effect tax rate
-

repurchased 4.5mill $1.1B in QTR - 34million shares remaining
mix results - equities started weakly
corporate and financial sponsor

growth international accounted for 52% of net revs

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Q&A
- asset mgt down b/c hedge funds problems